Unsurprisingly (because we at investorAi have been warning clients over the AI hype for some time now) Mike Wilson, the Morgan Stanley Chief Investment Officer (CIO), appears unimpressed by AI showing in corporate revenues.
These red flags are significant which is why we have been advising clients against buying some AI stocks as they are in significant overbought territory which could place our clients in a position to lose money.
Wilson seems to agree. He is one of Wall Street's most influential strategists and is now sounding the alarm bell on the red-hot AI trade.
"AI is sucking all of the oxygen out of the room. But now I think we are entering that dangerous part of the story where we need to see it in the numbers," Morgan Stanley chief investment officer Mike Wilson said on the Opening Bid podcast.
Wilson has made several significant market predictions, including the "rolling correction" in stocks in 2022, a term he coined. Recently, he foreca ...
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